17. Buying and Selling of Agricultural Land in India by NRIs

Question: Dear sir, I am an NRI currently residing outside the country, I wish to buy agricultural land in India for farming purpose. Is it possible. If yes then in which states. And what are the formalities one has to fulfill with the RBI.Regds. JeetuAnswer: NRIs are not allowed to buy agricultural land in India. Buying or Selling of agricultural land is a question that is frequently asked my NRIs.1.NRIs may acquire any immovable property in India other than agricultural/plantation/farm house.2.While NRIs are not allowed to buy agricultural property. I believe there is no bar on acquiring agricultural land in India by way of inheritance .3.Agricultural land acquired by inheritance by an NRI can only be sold to a resident in India. That is, you cannot sell to another NRI.4.Many State Governments in India also have their own laws regarding sale and purchase of agricultural land. For example in Maharashtra, even resident Indian citizens cannot purchase agricultural land unless they can prove that they are farmers.

17. Buying and Selling of

Agricultural Land in India by NRIs

Question: Dear sir, I am an NRI currently residing outside the country, I wish to buy agricultural land in India for farming purpose. Is it possible. If yes then in which states. And what are the formalities one has to fulfill with the RBI.Regds. JeetuAnswer: NRIs are not allowed to buy agricultural land in India. Buying or Selling of agricultural land is a question that is frequently asked my NRIs.1.NRIs may acquire any immovable property in India other than agricultural/plantation/farm house.2.While NRIs are not allowed to buy agricultural property. I believe there is no bar on acquiring agricultural land in India by way of inheritance .3.Agricultural land acquired by inheritance by an NRI can only be sold to a resident in India. That is, you cannot sell to another NRI.4.Many State Governments in India also have their own laws regarding sale and purchase of agricultural land. For example in Maharashtra, even resident Indian citizens cannot purchase agricultural land unless they can prove that they are farmers.

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